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SKPC announces it is sticking to PP project plans - Daily News Egypt

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SKPC announces it is sticking to PP project plans

Naeem Research anticipates that the project’s equity portion is expected to be funded via a capital increase, with NI Capital already appointed as the financial advisor.


Sidi Kerir Petrochemicals Company (SKPC) announced in its Ordinary General Meeting (OGM) minutes that it is sticking to plans to set up a new propylene and polypropylene project.

While management has already selected Honeywell UOP and Grace as the technology providers for the project, worth $1.2bn in investments, no further developments have been announced regarding the main contractor.

Naeem Research anticipates that the project’s equity portion is expected to be funded via a capital increase, with NI Capital already appointed as the financial advisor.

No new developments on the closure of the project’s debt portion, which is reportedly contributing up to 70% of the project’s costs, have been announced. There remains a stock overhang for the project which will be released once an impending rights issue is settled.

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https://dailyfeed.dailynewsegypt.com/2020/04/30/skpc-announces-it-is-sticking-to-pp-project-plans/
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